The Buffalo News reports that Chester County-based electronics maker Ametek has acquired Reichert Technologies, a manufacturer of eye-care instruments, for $150 million.
Reichert, which has estimated annual sales of $55 million and about 130 local employees, makes high-technology analytical instruments and devices for the eye-care market. Its products are used by ophthalmologists, optometrists and opticians for correcting vision with glasses or contact lenses, and for screening and diagnosing eye diseases or conditions such as glaucoma and macular degeneration.
“Reichert Technologies is an excellent acquisition, which expands Ametek’s business in the medical market,” said Ametek chairman and CEO Frank S. Hermance. “It allows us to enter the highly attractive ophthalmic device market with an industry leader and innovator.”
In particular, Ametek officials noted, the company is known for inventing the Phoroptor, a commonly used refraction device that is now the industry standard for use in vision correction diagnoses. And it’s a leader in making tools to measure intra-ocular pressure for glaucoma screening.
Original source: The Buffalo News
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